I. The VisionPrior to the modern age, communities formed around geographic locations. These communities shared in each other’s success and losses. When a member of the community suffered a loss, each of the community members would help in covering the cost of the loss. As the world modernized, companies formed to take over this assignment, in the form of insurance, and communities began to disconnect from the process. Today, the world is growing into a global community where geography is no longer a necessary limit. We believe the global community can be brought closer together and gain a vested interested in the well being of there fellow humankind through a globally shared trust, built and secured on the blockchain.

II. The PlanThrough blockchain and smart contract technology, BitLifeAndTrust aspires to disrupt the conventional broker markets in the insurance industry by returning the power of the markets to the communities which support it. BitLifeAndTrust will build a protocol for insurance products that are selected, funded and managed for the benefit of society. Our participants are you and others who fund the work of this project, the insured, who are made whole after a loss and everyone who believes in transparency without geographic boundaries. We aim to reduce the cost of all insurance in life, property, consumer goods, legal and others by putting the insured first. We aim to simplify claims processing by shifting the financial incentives from the seller to the claims processor and by creating competition among processors. Let’s together achieve the right to build a brighter future for you, those you care about and our global community. We invite you to participate in our shared beliefs, aspirations and desire for success. Thank you to the creators of blockchain, cryptocurrency and smart contract for making this all possible. Take the next step and read our WhitePaper!

I. The VisionPrior to the modern age, communities formed around geographic locations. These communities shared in each other’s success and losses. When a member of the community suffered a loss, each of the community members would help in covering the cost of the loss. As the world modernized, companies formed to take over this assignment, in the form of insurance, and communities began to disconnect from the process. Today, the world is growing into a global community where geography is no longer a necessary limit. We believe the global community can be brought closer together and gain a vested interested in the well being of there fellow humankind through a globally shared trust, built and secured on the blockchain.

II. The PlanBlockchain technology is poised to create disruption in and across many industries. It’s power to bring communities closer together is driving new innovation. Traditional markets have been structured around centralization and consolidation of power. No longer does the power, money and influence need to benefit the very few. Through blockchain and smart contract technology, BitLifeAndTrust aspires to disrupt the conventional broker markets in the insurance industry by returning the power of the markets to the communities which support it. BitLifeAndTrust will build a protocol for insurance products that are selected, funded and managed for the benefit of society. Our participants are you and others who fund the work of this project, the insured, who are made whole after a loss and everyone who believes in transparency without geographic boundaries. We aim to reduce the cost of all insurance in life, property, consumer goods, legal and others by putting the insured first. We aim to simplify claims processing by shifting the financial incentives from the seller to the claims processor and by creating competition among processors. Let’s together achieve the right to build a brighter future for you, those you care about and our global community. We invite you to participate in our shared beliefs, aspirations and desire for success. Thank you to the creators of blockchain, cryptocurrency and smart contract for making this all possible.

to offer insurance legally should there be some kind of fund or bond that assures the validity of said insurance? simply because it is on the blockchain does not justify the lack of regulation by insurance issuers.

Are you sure ? about transcation on insurance using a nature anonymous ? Thats really be a big problem. were all transactions must transparent, while the bitcoin is the opposite. Because it concerns about insurance that is clear and must happen.

to offer insurance legally should there be some kind of fund or bond that assures the validity of said insurance? simply because it is on the blockchain does not justify the lack of regulation by insurance issuers.

The fund value is the total market cap of the token, the tokens are both used to fund and payout the policy. We are working with regulators as required.

Are you sure ? about transcation on insurance using a nature anonymous ? Thats really be a big problem. were all transactions must transparent, while the bitcoin is the opposite. Because it concerns about insurance that is clear and must happen.

You cannot buy insurance as an anonymous person but the insured can mask their identity in the contract using services such as Civic.

This kind of concept is a bit complex. There have been few insurance-related crypto projects here so I don't know what advantage of this will offer to the community.And what type of insurance you are going to prioritized first?There's more than blockchain that is involved here upon claiming what you paid for. And will take time to really get what is owed to you.This will not secure your future. Just my thoughts though.

This kind of concept is a bit complex. There have been few insurance-related crypto projects here so I don't know what advantage of this will offer to the community.And what type of insurance you are going to prioritized first?There's more than blockchain that is involved here upon claiming what you paid for. And will take time to really get what is owed to you.This will not secure your future. Just my thoughts though.

TimeTeller,Thank you for your feedback and thoughts. We are in agreement, this will not be simple project, the code is not difficult but the market place can be. We believe it is a worthwhile and meaningful project. There are real problems for beneficiaries in the insurance markets today. Much of this is do to lack of visibility within the industry, but there are other issues as well. Our first product will be Term Life Insurance and will probably release outside the US to start. There are a few insurance related blockchain projects, we see this as a positive, some may fail but others will succeed, all will bring visibility and adoption to the consumer. Our approach is significantly different from the other projects I have seen. We also believe our leadership team is very strong and involved for the long-term. Anyone can have an idea, execution is what makes the difference.

Insurance projects are a very big project and this is not easy. I see there are only 3 people in the team, what could bring this project a success?

Thank you for your question. We are fortunate to have access to industry experts with whom we will be working on a contracted bases. The goal is to create a distributed community driven ecosystem and not a centralized company. For this reason the core team will remain fairly small but will grow beyond its current size. The design of the platform incentivizes existing licences insurance companies to work and negotiate with the regulatory organizations in their respective markets. Success will be reached through relationship building, offering sell-able insurance products and delivering profits for sellers and servicers.